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Cotton procurement exceeds 80% in Dec

24
Jan '07
According to China Cotton Association statistics, as of the end of December 2006, the national grand total of cotton purchase stood at 5.388 million tons, a year-on-year increase of 17.8 percent, accounting for 80 percent of the total expected cotton output.

The procurement in the main producing provinces of Jiangsu, Anhui, Hubei, Hunan nearly completed, with acquisition quantity excess 90 percent of the total expected output.

Shandong, Hebei, Henan also accelerated the acquisition progress, which was over 70 percent of the total expected production.

Xinjiang region acquired 1.77 million tons, accounting for 77 percent of the total expected yield.

Encouraged by favorable policy, the purchase price of unginned cotton continued slight rise in December. The purchase price of unginned cotton in domestic standard level averaged at 5.4 yuan/kg, and some areas exceeded 5.6 yuan/kg, up 0.2 yuan compared with November, which increased the inflation expectation to the growers who were reluctant to sell.

Fibre2fashion News Desk - China


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